The Lido community is categorically against limiting dominance in Ethereum stacking
The Lido community is currently voting on whether it should limit its share of the Ethereum liquid stacking market. Almost 99% of all votes cast at the moment are in favor of maintaining the status quo and the dominance of Lido.
Members of the Lido DAO have announced their intention to maintain the platform's dominance in the Ethereum 2.0 (ETH2) stacking market, since the majority of the community votes against the introduction of self-restriction on the liquid betting platform.
Lido Finance (LDO), a liquid stacking platform, accounts for almost a third of all Ethereum (ETH) tokens hosted on the Ethereum Beacon Chain. This has raised concerns about the high level of centralization. The topic was discussed at the Lido community forum for more than a month and the issue of reducing the dominance of Lido was put to a vote.
There is still about a day before the end of the voting, which began on June 24, but the result seems to be determined. Data from the voting page shows that more than 99.8% of voters decided that the Lido platform should not limit itself. If the vote fails, Lido will use other ways to minimize the risks associated with its dominance in stacking.
The platform is currently considering a proposal to introduce a dual management structure for Lido. This dual management architecture will include the inclusion of Staked ETH holders in the decision-making process for the DAO.
Staked ETH (stETH) is a derivative liquid stacking token provided by Lido in exchange for ETH placed by users in stacking on the platform. stETH is a tradable token, so it can be used in other DeFi protocols such as Aave and MakerDAO.
The current management of the Lido is carried out by the holders of the Lido DAO tokens (LDO). Only LDO owners propose management actions and vote for them. The dual governance proposal, if passed, would give stETH holders the right to veto voting decisions made by LDO owners.
The proposal also includes a temporary blocking component that will freeze the implementation of the vote to allow stETH holders to review the proposal and possibly veto it.
https://coin-signal.com/ethereum/the-lido-community-is-categorically-against-limiting-dominance-in-ethereum-stacking/
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